APS : Friday, 06 April 2018
ANNABA- An Algerian-Emirati steel plant, worth €1.6 billion, will be created in Annaba (600-km east of Algiers), announced Sunday the director of communication of SIDER-Annaba, Hichem Bamoun.
The future company named Emarat Dzayer Steel, coming under the Algerian law, will be built on the site of the iron and steel complex of El Hadjar, in the commune of Sidi Amar, said Bamoun.
Under this partnership, Sider group holds 31% of the shares, Sider El Hadjar complex 20% and the Emirati partner Dzayer Emarat 49%, he added.
“This investment is strategic and ambitious for the Algerian steel industry,” he stressed.
The future plant will produce tubes and rolled metal with an annual production capacity of over 1.3 million tonnes in the first phase, said Bamoun.
The project, which aims at developing steel industry, would generate 1,600 direct jobs and would allow the integration of 400 workers of the seamless tube plant of Annaba.
Sider El Hadjar complex, which stretches over an area of 840 hectares, employs 5,000 workers and produces 260,000 tonnes of steel products per month.
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